City have spent a massive amount in the last three windows, following the takeover of the club from Abu Dhabi United group.
City spent £120million on new signings last summer.
“January is always busy, busier for some more than others,” said executive chairman Cook.
“Mark has some thoughts and some plans but they are by no means as aggressive as they have been in the past.
“We have a great squad of players that are just getting bedded in and we might find there is more speculation about what we might do than what we actually do.”