Preheat oven to 180 degrees C. Lightly grease a baking tray.
In a medium sized bowl beat together the butter, sugar, eggs and vanilla. Stir in the flour, baking powder and cinnamon. Mix well then stir in the walnuts and raisins. Knead until dough comes together.
Divide dough in half and shape into long loaves, 4cm thick. Place loaves onto the prepared baking tray and flatten slightly.
Bake for 18 to 20 minutes. Allow loaves to cool enough to handle (about 10 minutes). With a sharp knife cut loaves diagonally into 2cm thick slices. Place cut sides down on baking trays. Bake slices for an additional 10 minutes or until lightly browned.