Rhodes' Ewood Park future is an on-going talking point, having scored over 150 career goals at the age of just 25.
But Bowyer is not about to allow the Scotland forward to join a fellow Championship side.
"I just don't understand why we would want to consider loaning one of our players to rivals in the Championship," said Bowyer, who steered Rovers to a 0-0 FA Cup quarter-final draw at Liverpool on Sunday.
"We've got 11 league games left and a cup quarter-final with a potential visit to Wembley if we were to be successful, so why we'd want to be letting any of our players go at this stage is beyond me."
Bowyer confirmed that Rhodes is expected to feature for Blackburn against local rivals Bolton Wanderers on Wednesday.
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