diff --git a/CHANGELOG.md b/CHANGELOG.md
index f29695b7..e8f68639 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Monaco Editor Changelog
 
+## [0.32.1] (04.02.2022)
+
+- fixes [an issue with service initialization](https://github.com/microsoft/monaco-editor/issues/2941).
+
 ## [0.32.0] (03.02.2022)
 
 ### Breaking Changes
diff --git a/package.json b/package.json
index 9007f3ec..ff146fcd 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
 	"name": "monaco-editor",
-	"version": "0.32.0",
-	"vscode": "5554b12acf27056905806867f251c859323ff7e9",
+	"version": "0.32.1",
+	"vscode": "8ad5e3bceab16a4d0856c43a374b511dffb1e795",
 	"private": true,
 	"description": "A browser based code editor",
 	"author": "Microsoft Corporation",