Should 127.0.0.1 be a banned address?

[sv1cec]

I have several traps in my site, which automatically enter the IP addresses of spammers etc, as well as the IPs of banned members in my banned IP list. Lately, I found in that list the IP 127.0.0.1.

Since typically, you do not see that IP externally (outside your computer), can this IP be a recommended IP to enter in the banned IP addresses, or putting it there will create problems?

Thanks