Preheat oven to 160°C. Butter a 30cm x 22cm baking pan.
2
Stir the grated carrot, raisins, sugar, water, butter, cinnamon and nutmeg in a large saucepan over medium-low heat until the sugar has dissolved. Bring to a boil. Reduce the heat and simmer, uncovered for 5 minutes.
3
Remove from the heat promptly and let cool to room temperature.
4
Sift the flour, baking powder, baking soda and salt into a medium bowl. Add carrot mixture and stir thoroughly. Stir in walnuts. Spoon the batter into the prepared pan.
5
Bake for 30-40 minutes or until toothpick inserted into the centre comes out clean. Cool the cake completely in the pan on a rack