In a bowl, combine the warm water, yeast, and honey. Let it sit for 10 minutes, or until the yeast is foamy.
In a large bowl, whisk together the rye flour, bread flour, salt, and caraway seeds.
Pour in the yeast mixture and olive oil, then knead until a soft, slightly sticky dough forms.
Knead the dough for about 10 minutes, until it becomes elastic and smooth.
Cover and let rise in a warm place for about 1.5 hours, or until doubled in size.
Turn the dough out onto a lightly floured surface and shape it into a round or oblong loaf.
Place on a baking sheet lined with parchment paper, cover, and let rest for another 30 minutes.
Preheat the oven to 430°F (220°C) and place a small oven-safe dish of water on the bottom rack to create steam.
Bake the bread for 35-40 minutes, or until golden brown and the loaf sounds hollow when tapped.
Let cool completely on a wire rack before slicing and serving.
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