Preheat the oven to 350 degrees F and mist a 9x13 baking dish with non-stick spray.
Arrange the bread in an even layer on a baking sheet, and toast it for about 15 minutes.
Transfer the bread to the prepared baking dish, layering in the raisins as you go.
Place the milk, cream, sugar, and salt in a medium pot over medium-low heat.
When the liquid is hot and steamy, pour it over the eggs, a little at a time, while whisking.
Whisk in the vanilla and pour the custard over the bread.
Allow the bread to soak in the custard for at least 30 minutes.
Cover the baking dish with foil and bake the bread pudding for 45 minutes, then remove the foil and continue baking until the custard is set around the edges and wobbly towards the center (approx. 15 minutes more).
Dust with cinnamon and powdered sugar, and serve with salted caramel sauce.