The Reds dominated the market this time last year with a shock £35m move for striker Andy Carroll and the sale of Fernando Torres to Chelsea for £50m.
While the Merseyside club hit the headlines last January, Dalglish has suggested that the Premier League side will be quiet this time around.
"We've got an option to be active if we want to be active, but we said at the outset that we'd be quiet," Dalglish told the club's official website. "It's work in progress for us. We'll just keep doing what we're doing, and the boys will keep working as hard as they can, and we'll see where we go.
"If we needed somebody to bolster up, we could do it - but I said right at the outset, we don't. We're not really chasing after anybody that we want to bring in in January. We've been happy with what [the players] have done since August."
Meanwhile, the Reds prepare to face Stoke City at Anfield on Saturday.