"effect of lowering" is a correct and usable phrase in written English.
It refers to the impact or result of reducing or decreasing something. You can use this phrase in any sentence where you want to describe the consequences of lowering something. Example: The effect of lowering taxes was a boost in consumer spending, leading to a stronger economy.
Those steps have the effect of lowering the effective price of the houses.
Such moves could have the effect of lowering mortgage rates.
Because death rates from West Nile tend to be higher in older people, that may have the effect of lowering this year's death rate.
Meanwhile, the amount the ships pay for the hydroelectric power goes into a fund that has the net effect of lowering energy bills paid by Juneau customers.
"Generally, we applaud new products coming to market because they can increase competition, which can have the effect of lowering fees for investors," Ms. Fornelli added.
The last round of Fed purchases had the effect of lowering lending rates by a half a percentage point.
It also pushes some investors to move their money into other assets, with much the same effect of lowering rates.
You then add all of the exemptions and subtract the total from your adjusted gross income, which has the effect of lowering your taxable income.
"This would have the effect of lowering the barriers to entry and allowing lots of new companies to enter the market, as we have seen with the many Chinese and Indian smartphone manufacturers".
Further complicating matters, the Organization of the Petroleum Exporting Countries, better known as OPEC, decided in late November not to reduce its production quotas, which would have had the effect of lowering over-all supply and driving prices up.
In addition, a landmark court decision that required rough parity in spending among districts had the effect of lowering the overall average, not increasing it, and education spending as a share of the state's personal income shrank dramatically.
