Preheat your oven to 350°F (175°C). Grease a loaf pan.
In a mixing bowl, whisk together the flour, baking powder, baking soda, salt, cinnamon, and nutmeg.
In another bowl, combine the vegetable oil, sugar, eggs, and vanilla extract. Mix well.
Gradually add the dry ingredients to the wet ingredients, mixing until just combined.
Fold in the grated carrots.
Pour the batter into the prepared loaf pan and bake for 50 minutes, or until a toothpick inserted into the center comes out clean.
Allow the bread to cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.