ISTANBUL, Jan 19 (Reuters) - Turkey’s central bank said on Tuesday it would maintain tight monetary policy considering inflation expectations and pricing behavior, but gave no new signal on plans for policy “simplification”.

The bank, which uses a complex system of multiple rates to set policy, last month said it would start to simplify policy once market conditions were stable enough. Investors have been waiting for any new signals the bank could move toward a more orthodox system of using a single interest rate to set policy.

“Taking into account inflation expectations, pricing behavior and the course of other factors affecting inflation, the tight monetary policy stance will be maintained,” the bank said in its statement following the first policy-setting meeting of the year, where it kept its benchmark rate on hold for the eleventh straight month. (Reporting by Daren Butler and Ayla Jean Yackley; Writing by David Dolan; Editing by Jeremy Gaunt and Nick Tattersall)