Preheat oven to 350°F (177°C). Grease and line an 8½×4½-inch loaf pan with parchment paper, leaving overhang for easy removal.

In a medium bowl, whisk together flour, cinnamon, nutmeg, baking powder, and salt. Set aside.

In a large bowl, whisk sugar and eggs for about 45 seconds until just combined.

Add olive oil and vanilla extract. Stir until incorporated.

Add dry ingredients in two parts, mixing gently with a whisk or spatula until just combined.

Fold in grated carrots and chopped walnuts.

Spoon batter into the prepared loaf pan and spread evenly.

Bake for 50–55 minutes or until a toothpick inserted into the center comes out clean and the top is golden.

Cool the loaf in the pan for at least 1 hour before slicing.