diff --git a/Jamfile.v2 b/Jamfile.v2
index 0624fabe5c..a33e022f4e 100644
--- a/Jamfile.v2
+++ b/Jamfile.v2
@@ -15,7 +15,7 @@ import set ;
 import stage ;
 import package ;
 
-constant BOOST_VERSION : 1.33.0 ;
+constant BOOST_VERSION : 1.34.0 ;
 
 project boost
     : requirements <include>.
diff --git a/Jamrules b/Jamrules
index 5877b1736c..9458d4b8be 100644
--- a/Jamrules
+++ b/Jamrules
@@ -11,5 +11,5 @@ project boost ;
 path-global BOOST_ROOT : . ;
 
 # The current version of Boost.
-BOOST_VERSION ?= 1.33.0 ;
+BOOST_VERSION ?= 1.34.0 ;
 
diff --git a/libs/config b/libs/config
index fd10cbfb54..a807f9d0a4 160000
--- a/libs/config
+++ b/libs/config
@@ -1 +1 @@
-Subproject commit fd10cbfb54aa238b3ab66805bc66d93c3d1df4bc
+Subproject commit a807f9d0a472445b4e4747dc20fa1feaef2dda49