london march 15 reuters  the european central bank is more likely to raise interest rates by a modest 25 basis points when it meets on thursday rather than by 50 bps or make no rate hike barclays said on wednesday at the current juncture we think that the ecb governing council is more likely to announce an increase of all policy rates by 25bp which we see as the highest probability outcome rather than 50bp or no hike to which we would ascribe lower but equal probabilities barclays said in the note traders bets on a large ecb rate hike this week evaporated quickly on wednesday as a rout in credit suisse shares fanned concern about the health of europes banking sector barclays said it assigned a 20 probability to no hike a 60 probability to a 25 bps hike and a 20 probability to a 50 bps increase