The Potters sit 11th in the table after back-to-back wins, and they are only six points off a top six spot, but Hughes thinks the most prudent approach is to save his transfer funds for the summer.
“We might look at the loan market but we’re not close to anything really at the moment,” he said.
“I wouldn’t have thought we’ll be spending anything significant in the January window.
“We’re better served keeping what finances we have available, ready to go into the market in the summer. I think that would be our best policy.”
Goalkeeper Asmir Begovic and central defender Ryan Shawcross have been impressing for Stoke of late but Hughes says he is hoping for a quiet window in terms of outgoings as well.
“There’s speculation about the best players at most clubs and the two you mentioned are in that bracket from our point of view,” he said.
“We’re not encouraging any bids on any of our players and that won’t change in January, and it won’t change in the summer.
“Other clubs might have something to say about that and they may be persistent but we’ve had no bids for those two players up to this point and I don’t anticipate we will have bids in the January window either.”
Begovic’s current contract has just 18 months left to run and Stoke are trying to negotiate an extension for the Bosnian stopper, who has been linked with Liverpool.
“There are discussions but I don’t think it’s progressed further than that,” said Hughes.
“There’s no real timescale but the closer the contract comes to running down, the more the power shifts away from us as a club and closer to the player and his representatives.”
Stoke???s next assignment is a visit from Manchester United on New Year???s Day but summer signing Bojan Krkic is set to miss out after suffering a hamstring injury against West Brom.
“He is a major doubt for the game,” Hughes aid.
“It’s a real disappointment because he’s been doing so well for us but we’ve got good players waiting to come in and have an impact.”