(Corrects paragraph 9 to say spread rose above 220 bps earlier this week, not on Tuesday) By Yoruk Bahceli (Reuters) – Money markets ramped up their bets on European Central Bank (ECB) interest rate rises on Wednesday to price in 75 basis points (bps) of hikes by September. With the bank largely expected to start rises in July and move in 25-bp increments, the pricing implies traders now expect its hikes to include a rare 50-bp move at a single meeting by September, compared with the October timing anticipated on Friday. The ECB’s next policy-setting meeting will be held on Thursday. Traders h…