Preheat oven to 325*. With electric mixer, on medium speed, blend together cream cheese, butter and sugar. On low speed, blend in eggs. Combine cake flour and baking powder and add to cheese mixture, blending until smooth.
Pour into buttered and floured 9 x 5 inch loaf pan. Bake 1 hour and 20 minutes until golden brown. When cool, sprinkle with confectioner's sugar and serve.