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The phrase "a lowering rate" is correct and usable in written English.
It can be used when discussing a decrease in a specific rate, such as interest rates, crime rates, or any measurable statistic that is declining.
Example: "The economic report indicated a lowering rate of inflation, which is a positive sign for consumers."
Alternatives: "a decreasing rate" or "a declining rate".
Exact(1)
Calcifediol was associated with a significant PTH reduction and a lowering rate of alfacalcidol administration from 66%to43%3% in 149 dialysis patients during 6 months of followup [ 40].
Similar(59)
Small businesses would pay a lower rate.
A lower rate of benefits for the under-21s.
Of these, 354,901 were sold at a lower rate.
Foreigners are admitted at a lower rate, Quinlan said.
(Oligarchs of more modest means would pay a lower rate).
She will be replaced by someone on a lower rate.
It has a lower rate but allows virtually no deductions.
A lower rate would make corporate America more competitive.
Locking into a lower rate makes financial sense, although the benefits of a lower rate might be diminished by a higher purchase price.
Thomas Cook agreed a deal with its lenders to extend its borrowing at a lower rate.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com