Begin by heating your oven to 350°F so it is perfectly warmed when the batter is ready. Prepare an 8½ x 4½-inch loaf pan with a light coating of nonstick baking spray, making sure to cover the corners well.
In a large mixing bowl, whisk together the flour, sugar, baking powder, salt, and a touch of ground nutmeg until everything is evenly blended. The nutmeg gives the loaf that lovely old-fashioned bakery aroma.
In another bowl, whisk the milk, egg, melted butter, and vanilla until smooth and fully combined. Pour the wet mixture into the dry ingredients and stir gently with a spoon or spatula just until the flour disappears. Do not overwork the batter, a light hand keeps the loaf tender. The mixture will look slightly loose, and that is exactly how it should be.
Pour the batter into the prepared loaf tin and smooth the top so it bakes evenly from edge to edge.
Bake for 60 to 70 minutes, until the loaf rises beautifully with a rich golden top. To check for doneness, insert a toothpick into the center, it should come out with a few soft crumbs but no wet batter.
Once baked, let the loaf rest in the pan for about 10 minutes to settle. Carefully remove it from the tin and place it on a wire rack set over parchment paper, which will catch every bit of the sweet glaze later on.