Wolves boss Mick McCarthy today hinted he is still to thrash out his January transfer budget with the club expecting little incoming activity next month.

Last night’s 3-0 defeat to Manchester City left Wolves 16th and just two points above the drop zone, and third bottom Bolton host the first of three games in hand against Hull tonight.

Chairman Steve Morgan was irritated by McCarthy’s decision to rest 10 players at Manchester United.

And the Wolves owner’s weekend quotes, saying he “wouldn’t be happy” with mere survival, as well as his public silence on the Old Trafford furore, are seen as placing unnecessary pressure on their relationship.

Last night, McCarthy answered a query on January transfer funds with: “We always keep looking but whether anyone can do anything, who knows? I really don’t know what will be available (in terms of players).

“It’s a time where desperation strikes for a lot of people who have to sell, while some are desperate to buy and so prices and wages are raised, so we’ll see.

“If we can finish above three teams, it will have been a good year’s work and I’ll be thrilled.”

Chief executive Jez Moxey said: “We’re looking to find one or two suitable players. I wouldn’t be upping the ante that there will be lots of players coming here. But we’ll try to do business.”