Preheat oven to 350.
Lightly grease #8 iron skillet.
Cream together butter and sugar.
Add flour, baking powder and salt.
Stir in raisins and caraway seeds.
Add milk.
Turn out onto floured board and knead about 20 times.
Dough will be very sticky.
Transfer dough to prepared skillet; smooth top, mounding slightly in center.
Using small sharp knife dipped into flour, cut 1-inch-deep X in top center of dough.
Bake until bread is cooked through and tester inserted into center comes out clean, about 45 minutes.
Cool bread in skillet 10 minutes.
Turn out onto rack and cool completely.