Central defender Taylor, 25, has not started for Birmingham since playing against Manchester United in February.
But Bruce confirmed he has turned down approaches to sign the former Blackburn centre-back on loan.
Bruce said: “I’ve had enquiries to take Martin on loan but he won’t be going anywhere.
“We have only 19 outfield players so, unless it is one of the younger lads, I am not in a position to release anyone.
“Martin has been forced to bide his time because the performances of Matt Upson and Kenny Cunningham over the last few seasons have been fantastic.
“But it would be wrong of me not to give him his chance when it arises.”