When you choose a time for your event, your event start time will show on your event when you add it to the calendar. The event time will show no matter what calendar view you're in. See the image below:
If you don't want to show the event time in your calendar, you can turn it off in the "Customize" screen for your calendar. Your event will still be assigned a time, but it won't show in the calendar. This is most useful for "Day View" when you have the Day Grid enabled because your event already shows up in the appropriate time slot.
To keep event times from showing in your calendar, follow the steps in the image below: