Consider the following statements regarding 'Open Market Operations (OMO)':
1. Outright OMOs are designed to influence long-term liquidity.
2. Liquidity Adjustment Facility (LAF) operations are aimed at managing short-term liquidity in the system.
Select the correct answer using the code given below:
1
1 only
2
2 only
3
Both 1 & 2
4
Neither 1 nor 2