Sift flour, sugar, baking powder, soda, and salt into a large mixing bowl. Cut in butter with a pastry blender until mixture resembles coarse meal. Stir in raisins and caraway seeds. Add buttermilk; blend to moisten the dry ingredients.

Turn dough onto floured board; knead for several minutes until smooth. Form dough into a round ball and place on greased baking sheet.

Flatten ball until dough is about 1-1/2 inches thick; brush top and sides with egg-water mixture. Cut a 1/2-inch deep cross in top of bread with sharp knife.

Bake at 375°F for 30 to 40 minutes or until toothpick inserted in center comes out clean. Transfer to wire rack to cool; brush top with butter or margarine and cover with cloth, until cool.