If the Basis Point Value (BPV) target is zero, does that mean the portfolio has zero sensitivity to a change in interest rates?

[sharadkapoor]

If the Basis Point Value (BPV) “Target” is zero, and accordingly the BPVHR formula is used with the BPV target as zero, does that mean the portfolio has zero sensitivity to a change in interest rates?

If not, at least theoretically?

[S2000magician]

Yes.