Have all ingredients at room temperature. Position a rack in the lower third of the oven and preheat to 325F (165C).
Grease and flour the bundt pan, tap out excess flour.
Over a sheet of waxed paper, sift together the flour, baking powder and salt; set aside.
In the bowl of an electric mixer fixed with the flat beater, beat the butter on medium speed until creamy and smooth, about 30 seconds.
Add the granulated sugar and continue beating until light and fluffy, about 5 minutes, stopping the mixer occasionally to scrape down the sides of the bowl.
Add the eggs a little at time, beating well after each addition. Beat in the vanilla just until incorporated, about 1 minute.
Reduce speed to low and add the flour mixture in 3 additions, alternating with the milk and beginning and ending with the flour. Beat each addition just until incorporated, stopping the mixer occasionally to scape down the sides of the bowl.
Spoon the batter into the prepared pan, spreading the batter so the sides are higher than the center. Bake until the cake begins to pull away from the sides of the pan and a toothpick inserted into the center comes out clean, 55 to 60 minutes. Transfer the pan to a wire rack and let cool for 15 minutes.
Gently tap the pan on a work surface to loosen the cake. Set the rack over a sheet of waxed paper, invert the pan onto the rack and lift off the pan. Let the cake cool completely, at least 2 hours, before serving.
Dust with confectioner's sugar just before serving.